Marketing! When some people hear marketing they think of advertising – must put an ad in the newspaper, Google or Facebook to generate sales. For others it’s selling – our sales reps aren’t doing enough they must see and sell to more customers each day. And others think promotion – let’s give something away to get more customers.
Well all of the above are elements of the marketing program, which is born out of your marketing strategy. But if you don’t have one universal marketing strategy that the entire company is aware of, how would you know whether any of the elements are working.
So what is a Marketing Strategy?
Basically a marketing strategy involves two major activities:
- selecting a target market and determining the desired positioning of the product in the target customers’ minds, and
- specifying the plan for the marketing activities to achieve the desired positioning.
Marketing is literally about finding out what your customers want and then deliver it to them profitably!
What are the Benefits of Marketing?
Marketing is all about attracting new customers to purchase your service and to maintain repeat customers, which will purchase your service regularly. Therefore allowing you to grow a profitable business, which will support your family, and give you a fantastic asset to sell on retirement or to pass down to the generations.
What’s the Purpose of Marketing?
Marketing is about conscious communication and delivering real value to customers. Thus a firm must define itself not by the products or services it sells, but by the customer benefit it provides.
Some businesses have achieved acceptable levels of profit. However, this level of profitability could be significantly improved with the adoption of a marketing approach.
Some businesses have initially achieved due to little or no competition. But with new rivals waiting in the wings no business can remain complacent for too long.
A business that embraces a marketing approach will make and keep customers. Remember without customers you don’t have a business. However if you can create and keep customers profitably, your business will remain healthy for a very long time.
Remember profits are the outcome of marketing and keeping customers – customers first – profits follow.
Marketing’s Underlying Principles
Remember your marketing will work if you understand the simple underlying principles that will always be true about human nature.
Selfishness – customers are looking out for ‘what’s in it for me’. When you give them some useful ideas and share results that apply to them, they respond with increased interest.
Familiarity – people like to do business with people they know and trust. Let them know about what you do and how you think and they will feel comfortable with you and more likely to work with you.
Resonsance – people also want to do business with people they like. People like other people who are generous and helpful and who produce results.
Reciprocity – people are likely to do business with people who have given them something valuable because they feel they ‘owe it to them.’
Your core-marketing message has to be focused, crystal-clear, and speak to the needs of your prospective client. Your core-marketing message needs to cover several different but very important aspects:
- Target market – who is your message directed to?
- Problem/Solution – what is the concern or issue of your client, and what is your solution?
- Benefits – What are all the various ways your services help your client?
- Unique Competitive Advantage – What makes you stand out in a way that makes you different from your competitors?
- Risk Reversal – What are you promising to deliver?
If you want consistent results and to attract all the customers you want, your strategic marketing plan needs to be designed and implemented as step-by-step action plans.
What’s Missing in your Marketing?
Do you need to work on your marketing message, marketing strategies, your selling process or all three? By developing your strategic marketing plan will attract more qualified clients to your business.
Deborah’s strategic marketing sessions helps clarify:
- Your marketing goals and objectives
- Your core marketing message or brand identity
- The best niche markets to target
- A system that attracts the right clients
- Programs that will help you generate a profitable business
If you’d like Deborah to help you determine your strategic marketing plan email her at email@example.com or call her directly on 0438 443 646.